#KOT, or Kenyans on Twitter, are being blamed for a run on deposits that resulted in Chase Bank Kenya Ltd. being placed under creditor protection by the East African country's regulators on Thursday.

Central Bank of Kenya Governor Patrick Njoroge said "malicious comments" on social media were part of the reason the lender was placed under receivership.

"We had some individuals that shouted fire in a crowded theater room; to me there is nothing as reckless as that," he told reporters in the capital, Nairobi. "If one made such horrendous statements, you can cause a run, some crisis. Indeed the bank was under serious pressure."

Chase Bank on Wednesday sought to assure customers that it was operating normally as a flurry of comments on social-media sites speculated on the financial health of the company. Rumors on the safety of deposits and investments mounted following the resignation of Chairman Zafrullah Khan and Managing Director Duncan Kabui, and concern over a qualified opinion expressed by auditors on earnings that had been restated to show a surge in loans to employees and directors.

"Rumors have been rife on social media which is turning out to be a pre-eminent early warning system," Aly-Khan Satchu, chief executive officer of Rich Management, an adviser to companies and wealthy individuals, said in response to e-mailed questions.

Reopening Quickly

Kenya had the highest number of tweets in Africa after Egypt, Nigeria and South Africa in 2015, London-based Portland Communications said in a report released April 6.

The central bank stepped in on Wednesday and worked through the night as Chase Bank experienced liquidity difficulties because of "inaccurate social-media reports," the central bank governor said.

The company's shareholders will inject liquidity into the bank and are committed to working with regulators to reopening quickly, he said, adding that there was no evidence of fraud.